At January 1, 2018, Brainard Industries, Inc., owed Second BancCorp $22 million under a 10% note due December 31, 2020. Interest was paid last on December 31, 2016. Brainard was experiencing severe financial difficulties and asked Second BancCorp to modify the terms of the debt agreement. After negotiation Second BancCorp agreed to: a. Forgive the interest accrued for the year just ended. b. Reduce the remaining two years' interest payments to $2 million each and delay the first payment until December 31, 2019. c. Reduce the unpaid principal amount to $20 million. Required: Prepare the journal entries by Brainard Industries, Inc., necessitated by the restructuring of the debt at (1) January 1, 2018; (2) December 31, 2019; and (3) December 31, 2020. (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet